Foreign House Buyers in Spain up 28.4 pc in 2012

A total of 38,312 foreign, non-resident nationals in Spain bought a home last year. This represents an increase of 28.4% compared to 2011, according to the Notary Association. 42% of the transactions closed at a price above 160,000 Euros.

By region, Murcia and Andalusia are the two regions where the number of buyers has fallen, whilst Catalonia last year recorded more than twice the number of buyers as compared to 2007. The origin of new homeowners has also changed, because for the first time the Russians represent the second largest volume of homebuyers, behind the British.

Regarding prices, 42% of transactions closed for an amount in excess of 160,000 Euros, precisely the figure that the Spanish government has set as a recommended amount in order to grant residence permits to foreigners who purchase a home in Spain. This however, is still subject to final legislation by the government.

3 comments on “Foreign House Buyers in Spain up 28.4 pc in 2012”

This is great news, it will be very interesting to see what effect the bad bank in Spain has in 2013. With house prices dropping even further hopefully more foreigners will be tempted back to the country as they once were.